Wednesday, September 17, 2008

Guesstimates on September 17, 2008

Spiders - September S&P E-mini Futures:  I think yesterday’s 1163 low marked the start of a substantial rally. First upside target is 1250 but I expect higher prices than that in a week or two. Support today is 1186. 

QQQ: Support is at 41.50 and resistance above the market is at 44.25. 

TLT - December Bonds: The market has reached and exceeded the 123 target. I think the next big move will be downward. market will reach 123 before it heads lower.     

December 10 Year Notes: The notes stopped just shy of the 120 target. I think the next big move from here will be downward.   

Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is at 145.00. 

Dollar-Yen: The market is headed for 98.00. 

XLE - OIH - USO – October Crude: Crude has reached the 91 level and a rally of $10-15 is imminent. 

GLD - December Gold: Gold is headed for 700.  Resistance above the market is at 840. 

SLV - December Silver: Resistance is at 1390 and I think we shall see a drop below 1000 before silver can start a big rally. 

Google: Google is probably now headed for 375.  

2 comments:

Anonymous said...

I am a buyer today under 1190 with target of 1230...ish

cheers
Susn

Anonymous said...

Yesterday's low may mark the start of another bear market rally, but thats about it. This bear has another 6 or so months to run. When the time comes for the new bull to start, most people will be afraid to buy.